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SPHERE Technology Solutions announced a $31 million Series B on November 30, 2022. Edison Partners led the round, with existing investor Forgepoint Capital participating. The financing was intended to help SPHERE expand its identity-hygiene software and its sales and partner reach; it is a historical announcement, not a newly announced investment.
Who invested in SPHERE, and what was the round?
SPHERE said the $31 million Series B would accelerate growth of its software-as-a-service identity-hygiene offering, channel ecosystem and alliances, and sales and marketing. Edison Partners general partner Lenard Marcus was slated to join SPHERE’s board. SPHERE’s announcement is the primary source for the round’s date, amount, participants, board appointment, and stated plans for the proceeds.
For context, Forgepoint Capital says it led a $10 million Series A in 2021. SecurityWeek reported that the Series B brought SPHERE’s total funding to $45 million; that cumulative figure is SecurityWeek’s reporting, not a figure stated in the company announcement.
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What does identity hygiene mean?
In an enterprise, identity hygiene means keeping track of who—and what—can access company systems and data, checking whether those accounts are appropriately protected, and addressing access that is excessive, inappropriate, or not adequately secured. The identities can include employees as well as privileged and service accounts. The aim is to make access risks visible and support ongoing correction, rather than treat an account inventory as a one-time exercise.
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In its 2022 funding announcement, SPHERE described its platform as covering end-user and privileged-account controls across cloud and on-premises environments and as helping remediate open, excessive, and inappropriate access. The company positioned this work as support for Zero Trust efforts and compliance; these are SPHERE’s descriptions of its product and intended outcomes, not independent validation of security results.
What does SPHEREboard do?
SPHEREboard is part of SPHERE’s enterprise identity-hygiene product offering. Company materials describe functions including discovering accounts and identities, identifying ownership and accountability, providing visibility into privileged accounts, and supporting remediation of access issues.
A SPHERE product overview with 2025 copyright lists offerings including SPHEREboard for CyberArk PAM, Secure AD, Intelligent Discovery, Accounts+, and SPHEREboard for Data. These names and descriptions reflect that dated company overview; they should not be read as a guarantee that current packaging, integrations, or availability are unchanged.
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A separate Intelligent Discovery brief carrying 2026 copyright says the product scans, inventories, and analyzes accounts to identify protection gaps, establish ownership, and surface access risks. That is a company-authored product description, not independent evidence that the software prevents breaches or achieves a particular security outcome.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the funding does—and does not—tell buyers
The Series B signals that investors backed SPHERE’s plans to expand its product and commercial operation in 2022. It does not establish current pricing, current integrations, or comparative performance against other identity-governance or privileged-access products. Those details are not provided in the sources cited here and can change over time.
Forgepoint’s investor case study describes SPHERE’s history as a company founded by Rita Gurevich and names Goldman Sachs, Freddie Mac, and Northwell Health as customers. Those are investor-reported historical examples, not a verified current customer list.
Gurevich, SPHERE’s founder and CEO, framed the company’s origins this way in its funding release: “As a company founded and operated by a team of security practitioners, we developed a mission-critical solution well before the market even deemed it mission-critical.” That is her view of the company’s work and market timing.
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Sources and timing
- SPHERE Technology Solutions’ November 30, 2022 Series B announcement for round details, stated use of funds, product claims at the time, board appointment, and Gurevich’s quote.
- Forgepoint Capital’s SPHERE case study for its account of the company’s history, the 2021 Series A, and investor-reported historical customer examples.
- SecurityWeek’s report on the Series B for its $45 million cumulative-funding figure.
- SPHERE’s product materials for company-authored descriptions of its product lineup and Intelligent Discovery capabilities.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
